Rumble Inc. has released its financial results for the fourth quarter and full year 2024, revealing some significant changes and achievements compared to the previous period.
For the fourth quarter of 2024:
- Revenue was $30.2 million, up 48% from $20.4 million in the fourth quarter of 2023.
- The average global monthly active users (MAUs) reached 68 million, with 21% sequential growth in the U.S. and Canada to 52 million.
- Average revenue per user (ARPU) for the fourth quarter of 2024 was $0.39, up 18% from $0.33 in the third quarter.
- The net loss for the fourth quarter was $236.8 million, compared to a loss of $29.3 million in the fourth quarter of 2023.
- Adjusted EBITDA was a loss of $13.4 million, representing an improvement of $16.6 million compared to the fourth quarter of 2023.
- Rumble's balance of cash, cash equivalents, and marketable securities was approximately $114.0 million as of December 31, 2024.
Following the financial results, several subsequent events were also highlighted, such as a strategic investment from Tether, a cloud services agreement with the government of El Salvador, and partnerships with prominent content creators.
Rumble's Chairman and CEO, Chris Pavlovski, expressed optimism about the company's future, particularly after the $775 million strategic investment from Tether, emphasizing the alignment between cryptocurrency and free speech communities.
Looking ahead to the first quarter of 2025, Rumble expects revenue growth of at least 25% compared to the first quarter of 2024 and aims to manage the business towards adjusted EBITDA breakeven in 2025, following the new capital raised from Tether.
Rumble's fully diluted capitalization as of March 12, 2025, subsequent to the closing of the strategic investment from Tether and the related self-tender, stood at $418.95 million.
As a result of these announcements, the company's shares have moved 0.5% on the market, and are now trading at a price of $8.05. Check out the company's full 8-K submission here.
